XAUUSD Long: Accumulation Above 4,700 Targets Buy-Side Liquidity

[madmax]

Hello traders! Here’s my technical outlook based on the current XAUUSD (2H) chart structure. Gold previously moved inside a descending channel, forming lower highs and confirming bearish pressure. After a breakdown, price found a bottom near a pivot point and started a recovery phase. Price also reclaimed the 4,700 demand zone, confirming it as a key support level.

Currently, gold is consolidating inside a range just below the 4,850 supply zone, while holding above support. This indicates accumulation and building pressure under resistance.

As long as XAUUSD holds above the 4,700 support and respects the rising demand line, the bullish bias remains valid. A breakout above the 4,850 resistance could trigger continuation toward higher levels (TP1). Manage your risk!

[ed]

ranging under resistance, nothing new here

[madmax]

reclaiming that 4,700 demand zone is a strong shift in structure